CBRE’s Charlotte office has finalized the $44.7 million sale of McBee Station Apartments in Greenville, South Carolina to Atlanta-based TriBridge Residential. McBee Station is a 197-unit Class-A multifamily property.
According to CBRE, the Greenville submarket had a multifamily occupancy rate of 96 percent in the first quarter.
“Renter demand remains extremely strong for modern, infill multifamily communities, which is driving institutional capital into many urban locations throughout the Southeast,” said CBRE’s Phil Brosseau, who helped lead the sale. “McBee Station’s location, large average unit size, and amenity suite present an ideal opportunity for new ownership to realize accretive rent growth by upgrading units to satisfy the market’s demand for higher-end product.”
CBRE is a commercial real estate services and investment firm based in Los Angeles. The company has more than 52,000 employees and 370 offices worldwide.